Profit Mastery offered in Grand Rapids
Friday, June 15, 2018
Itasca Economic Development Corporation (IEDC), in partnership with the University of Minnesota Duluth Center for Economic Development, brought Profit Mastery to Grand Rapids. The workshop was held April 24 and 25.
Profit Mastery is a program developed by BRS, built around the core premise that to improve financial performance, it must be measured. Profit Mastery training is designed to help owners and managers of small business better understand financial management. The two day, hands on training included: basics of cash flow management; financial statement analysis; cash flow planning; overcoming common cost, volume and pricing issues; and preparation for growth. The cash-to-cash cycle is explored with emphasis placed on break-even calculations, contribution margin, inventory turnovers, and accounts receivable collection.
“Part of our role at IEDC is to support our small businesses by providing quality learning opportunities,” said Shannon Benolken, director of business development for IEDC. “Profit Mastery is a workshop that every business can benefit from.”